Together, we did it.

Thanks to the generosity of its members and the community at large, IC Savings was proud to present a donation of $120,000 to the Canada-Ukraine Foundation.

Updated 29 April 2022

Last month, our credit union launched a matching campaign among our members in support of humanitarian aid to Ukraine. The response was both immediate and generous. In a little more than a week, the original goal of $50,000 was handily met. We then raised the goal.

Today, Fausto Gaudio, President and CEO of IC Savings, presented a cheque for $120,000 to the Canada-Ukraine Foundation. These funds, as you will read, will be used by a network of non-governmental agencies in Ukraine that are partnering with this Canadian charity to deliver relief where it’s needed. 


Thank you for your overwhelming generosity.

Our credit union’s purpose is to add value for the benefit of the communities that we serve. While we lean toward investing in local projects and activities to create lasting impacts, we have extended our support, from time to time, to communities well beyond our borders. This is one such time. 

As Mr. Gaudio noted, “Like many around the world, we were witnessing the many heart-breaking scenes brought about by this conflict in Ukraine, and knew that we needed to do our part to help ease the suffering of those who were displaced, as well as those who fled the country in search of safety and shelter. We created an opportunity for the members of IC Savings to participate and are overwhelmed at how they, and the community at large, stepped up and responded so generously to our appeal." 

​How this donation will help

Known as Europe's breadbasket, Ukraine has lost crops and granaries since the shelling began. With blockades and infrastructure destroyed, exports have come to a literal stop. Recent government estimates put these losses at $1.5 billion.

The Canada-Ukraine Foundation confirmed that the donation from IC Savings and its members will be used to buy buckwheat, which will soon ship out to millers in Ukraine to produce flour. The day after the cheque presentation, the Foundation was in Winnipeg, finalizing the purchase of 140 metric tonnes of this whole grain, as well as the purchase of seeds, which will be planted to generate a crop this season and revive a struggling industry. 

Photo credit: Canada-Ukraine Foundation


In the last 45 days alone, the Canada-Ukraine Foundation has worked with various agencies in Ukraine to:

Coordinate the delivery of 450 metric tonnes, or 20,000 food parcels, to people such as those shut-in seniors pictured above who are living in some of the country's hardest-hit cities and towns. The parcels, which provide about 47 days of nourishment, contain locally sourced items, such as porridge, pasta, beans, canned meat, sunflower oil, sugar, salt, sardines and black tea. 

Help set up emergency welcome centres emergency reception centres in Moldova, Romania and Poland to welcome refugees.

Purchase a three-month supply of much-needed medicines for at least 100,000 people.

Donations of $50 or more will receive a charitable tax receipt directly from the Canada-Ukraine Foundation, #898992151 RR 0001.


​Standing with Ukraine

"We thank IC Savings and its members for their leadership and support. Among the community of 23 credit unions in Canada that have stepped forward to support our work, this donation by IC Savings is the largest to date and will help us do more good in the weeks and months to come."  – VICTOR HETMANCZUK, CHAIR, CANADA-UKRAINE FOUNDATION

"It is a stressful and anxious time for the Ukrainian diaspora in the GTA and across our country. Know that the IC Savings community, with its members, Board of Directors and employees, stands with you,” said Mr. Gaudio.

Joining Mr. Gaudio (second from left) for this special presentation were Yvan Baker, Member of Parliament for Etobicoke Centre, Victor Hetmanczuk, Chair, Canada-Ukraine Foundation, Sam J. Ciccolini, Chair of the IC Savings Board of Directors and Charles Sousa, Director, IC Savings Board.

Yvan Baker, Member of Parliament for the riding of Etobicoke Centre and also a proud Canadian of Ukrainian heritage, acknowledges the leadership of our credit union and its members.